Mumbai, Maharashtra, India: The ground-breaking fintech of International Payments- iPiD, today announced its launch in the Indian market. iPiD is a technological innovative initiative for financial transactions cutting across the political borders of nations and financial borders of currencies. And all this through phone numbers linked to the bank accounts of the recipient. This eliminates the margin of error in entering multiple codes (IFSC codes, BIC codes, etc.) that are otherwise a norm for cross border transactions.
Furthering their commitment to the Indian sub-continent, iPiD has appointed Mr. Asit Oberoi as Regional Director to helm the South Asian operations. A consummate financial services professional by qualification and with over 30 years of experience in top-notch financial institutions at various senior positions, Asit has a proven track record of major responsibilities at senior positions in organisations such as Yes Bank, Fidelity International, Bank of America, Standard Chartered, and Buckzy Payments.
Commenting on the launch, Damien Dugauquier, Co-Founder of iPiD said, “iPiD is the result of innovative thinking and a step forward towards a globally connected world. We are excited to launch our services in India making it easier for remittances and payments to be made into and out of the country with trust, security, accuracy and minimal effort.”
Asit Oberoi, the incumbent Regional Director, India further added, “After sailing through the rough weathers of the financial world due to the pandemic, we have built on the fast digitization of the world to successfully create a cutting-edge technological initiative. And fortunately, I have been trusted and assigned the job of ensuring that cross-border payments become as easy as sending a text message for Indian customers. I am excited about this role and will bring in my financial and marketing expertise to the table to enable the successful implementation of this offering of iPiD for the Indian market.”
iPiD offers to improve the convenience and predictability of cross-border payments while maintaining the highest standards of financial security. iPiD has broken the barriers of borders so it might compel the banks to rewrite their rulebooks and at the same time iPiD is bound to give birth to Smart Connectivity between the member banks and the participant financial institutions. Payment systems across financial institutions and bodies will find a true ally in iPiD to further their offering to ease cross border payments for their customers and realize the vision of making global payments as easy as texting.About iPiD
iPiD is a fast-growing, venture-backed fintech start-up that is founded by a global team who have held senior roles at major payments and technology companies, including SWIFT and Thomson Reuters. Together, we share a vision to simplify cross-border payments to be as easy as a text message.
We achieve this by partnering with financial services providers (e.g. banks, payment fintech, wallets, remittance companies) to deliver a suite of proxy look-up, request-to-pay and payment-to-wallet services. It is a first-of-its-kind service that makes cross-border payments easy by needing only a simple proxy for the payee’s identity. We act as a data orchestrator and enable global payments based on a phone number, email address, QR code, Corporate Registration Number and other aliases.
iPiD is built for all – we do not replace banks, payment fintechs, wallets or remittance companies; nor do we replace existing payment rails. We provide an addressing and messaging service that all can leverage to offer a better user experience.
Our global team has representatives in Singapore, Jakarta, Hanoi, Kuala Lumpur, Mumbai, Amsterdam, Brussels, Madrid, Johannesburg, Seattle and London.
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